Will Soft Prices Propel Agency Start-Ups?
The chief executive officer of an online agent quote service is predicting that softening insurance rates will fuel a surge in agency start-ups, with the formation of “hundreds” of brokerages and independent agencies.
Richard Kerr, the chairman and CEO of Dallas-based MarketScout, made his comments in the wake of findings that overall premium growth for property-casualty insurance was roughly 7 percent in May a tiny gain compared with double-digit jumps in past years. Property insurance premium costs decreased five-to-10 percent last month, even as some tougher liability lines increased, MarketScout found.
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